. >> oh, and this latest decision to just kick the can, i hate to use the cliche, further down the road, axel neighbor is a former central banker in europe, also the head of ubs and he was absolutely in no doubt that what we are seeing in the u.s. in the political and economic process is dangerous. >> if you have the debt ceiling, the europeans will talk about how you can make that binding. in the u.s., the concern is much more whether you can lift it in time in order not to put too much break on the economy. now, the u.s. economy has bottomed out, it's coming back, and i think sooner or later the u.s. has to face the fiscal issue not just in the sense of delaying adjustment but really making a credible adjustment. >> this is very reminiscent of the conversations we were having a year ago about europe. from the outside it looked obvious, have to get your house in order, you know what the decisions are likely to be, you have to just do them. now i hear everybody in europe saying you know what you need to do, you just need to do it. >> they were particularly amaze t at the latest decision